Auric Mining Boosts Cash to $10M with Strong Jeffreys Find Gold Sales
Auric Mining Limited reports a robust cash flow quarter ending December 31, 2024, with current assets reaching approximately $10 million and ongoing cash inflows from its joint venture at Jeffreys Find Gold Mine.
- Current assets total approximately $10 million as of January 30, 2025
- Interim cash payments received from joint venture partner BML Ventures
- Positive cash flow from operating activities recorded for the quarter
- Continued cash distributions expected in Q1 2025 from Jeffreys Find project
- Exploration and evaluation expenditures maintained with controlled corporate costs
Auric Mining's Financial Snapshot
Auric Mining Limited (ASX: AWJ) has released its Appendix 5B quarterly cash flow report for the period ending December 31, 2024, revealing a solid financial footing bolstered by its ongoing gold mining operations. The company reported current assets of approximately $10 million as of January 30, 2025, encompassing cash at bank and on deposit, trade debtors, and listed company shares.
This healthy cash position reflects Auric's strategic partnership with BML Ventures Pty Ltd, its joint venture partner at the Jeffreys Find Gold Mine. The majority of surplus cash from operations remains with BML, pending final reconciliations and further gold sales, underscoring the collaborative nature of Auric's mining profit-sharing arrangement.
Operational Cash Flows and Expenditure Control
The quarter saw Auric receive interim cash distributions totaling $1.1 million from gold sales, contributing to a net positive cash flow from operating activities of $700,000 for the quarter and $2.2 million year-to-date. The company maintained disciplined expenditure, with payments for administration and corporate costs amounting to $198,000 and $535,000 respectively for the quarter and year-to-date, while exploration and evaluation outlays were carefully managed.
Investing activities reflected ongoing commitments to tenements and exploration, with payments of $351,000 and $675,000 respectively, signaling Auric's continued focus on advancing its mineral assets. Financing activities were minimal, with a modest net inflow of $55,000, indicating no significant equity or debt raises during the period.
Jeffreys Find Gold Mine: A Catalyst for Growth
The Jeffreys Find Gold Mine remains central to Auric's operational and financial strategy. Following the announcement on January 14, 2025, that Stage Two sales exceeded 14,800 ounces, Auric has received further interim cash payments from BML, reinforcing the project's profitability and cash-generating potential. The company anticipates additional cash distributions in the first quarter of 2025 and upon project completion, which will further enhance its liquidity and capacity to fund ongoing activities.
With no borrowings drawn and no financing facilities currently utilized, Auric appears well-positioned to sustain its operations and exploration programs without immediate capital raising. The company continues to provide transparent updates to the market, reflecting a commitment to strong governance and shareholder communication.
Looking Ahead
As Auric Mining navigates the next phases of the Jeffreys Find project, the interplay between operational cash flows, joint venture dynamics, and disciplined capital management will be critical. The company's ability to convert gold sales into sustained cash inflows will likely dictate its growth trajectory and investor confidence in the coming quarters.
Bottom Line?
Auric Mining's growing cash reserves and steady inflows from Jeffreys Find set the stage for a pivotal 2025.
Questions in the middle?
- How will ongoing gold sales volumes at Jeffreys Find impact Auric's cash flow in Q2 2025?
- What are the timelines and expected costs for the completion of the Jeffreys Find project?
- Could Auric consider expanding its joint venture partnerships or seek new financing to accelerate growth?
